The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Livongo Health shares surged as much as 62% in their stock market debut on Thursday, the latest sign that public investors are buying into the digital health trend.
The company provides diabetes services to large employers, a space that's attracting big dollars in the quest to ultimately provide better coverage and bring down costs. The IPO has been touted by the industry as a potential benchmark for other start-ups that sell disease management services to large companies and health systems.
Livongo was joined by Health Catalyst, a distributor of data analysis tools to hospitals, which also hit the market on Thursday and gained as much as 56%. Livongo raised over $350 million in its offering, while Health Catalyst brought in over $180 million.
Backed by Microsoft and venture investors, Livongo is part of an emerging group of companies using technology tools like coaching in a bid to improve health outcomes. The company connects with smartwatch manufacturers like Apple and Fitbit to deliver nudges that serve as reminders to its users to eat healthy and exercise, and was among the first to introduce a medical skill to Amazon's Alexa voice assistant.
In 2018, digital health companies raised more than $8.1 billion in venture capital financing, according to Rock Health. In Livongo's space, there's competition from health coaching companies, including Omada Health and Virta Health. But there have been few significant exits in the market, meaning investors are paying particularly close attention to how Livongo performs.
After its debut, Livongo is worth about $3.6 billion. The company priced shares at $28 on Wednesday, above the most recent range of $24 to $26, and started trading at $40.51. It closed the day at $38, an increase of 36 percent.
Livongo began by focusing on diabetes — more than 100 million Americans are living with the disease or are considered at high risk — but has since moved into other disease areas, including hypertension and mental health.
The company said revenue more than doubled in 2018 to $68.4 million from a year earlier, while its loss widened to $33.4 million from $16.9 million in 2017.